How to finance your park home purchase

Park homes – detached bungalow-style dwellings – are increasingly popular in a vibrant housing market.

Image Credit

Usually set on a private estate, these homes are located on plots known as pitches. In law, these properties are known as mobile homes and are covered by their own legislation under the Mobile Homes Act 1983.

Information on all aspects of purchasing park homes can be found on the government website. The emergence of these estates around the UK means there is a breadth of choice for potential purchasers.


As an example, Gloucester park homes for sale are available through specialists such as parkhomelife. Once you have located a property, the question of finance needs to be tackled. There are numerous options and you will need to examine them closely to select the one that best suits your needs.

Remember that you will be buying the home but not the plot (pitch). The pitch will remain under the ownership of the site owner, who is responsible for managing and maintaining the site. This impacts the type of financing available.

Mortgages cannot be secured against park homes, as they are limited to structures that are purchased with the plot of land they are built on or on a long-term leasehold basis. In the case of a park home, you will pay a pitch fee for the occupation of the plot. This agreement will be protected by the Mobile Homes Act 1983, which covers both parties’ respective rights and obligations.

Image Credit


The length of this agreement will affect the conditions of the finance you use to purchase your park home. Finance companies specialising in this kind of property will consider several issues, including the size of the home, location, site lease length and security matters.

They will also want to know whether it is intended to be your permanent home and you will be subject to the usual credit checks. Your repayments may also be affected by whether you take out insurance through the finance company.

As with any other form of finance, shop around to find the best deal from the reputable companies offering this kind of arrangement. Purchasing a park home will be one of the largest commitments you ever make, so it is vital to ensure that the financial arrangement is the right one for you.